Some people demo historic houses, while others throw ungodly amounts of money at them, adding new wings, spas, second pools, two level pagoda nightclubs, and raising the roofs by 20 inches to capture spectacular views. That's just what Bill Dean, a guy that builds high tech infrastructure (maglev for Miami maybe?) did with his new place on Pine Tree Drive, the old Kresge estate, Terra Veritatis. He bought it for $8 million, and hired Michael Capponi, nightlife impresario/general contractor, to restore and enlarge it for another $32 Mill. Oh, and the other day Michael threw a fabulous black-tie party celebrating its completion, and Bill's birthday.
· The $40 Million Party Pad [Wall Street Journal]